One of my cousins is needing a valuation on some mineral acreage in McKenzie County (Township 145 North/Range 99 West) - these particular sections are unexplored so far in the Bakken sense. Can anyone give me a ballpark value for unexplored mineral acreage for that area?
If my cousin needed a more authoritative valuation, any suggestions as to who to contact?
Thanks very much.
The answer depends upon why the cousin needs the evaluation. If for capital gains purposes, then one needs a professional evaluation which may be called a retrospective evaluation since it has to go back to a cost basis at a particular point in time such as a purchase or inheritance so date of death. If a ballpark, then that is a different kind. If a professional is needed, then you can contact the NARO Chapter that includes that area and they may have some suggestions. There is also a national appraiser association and they may have members familiar with the area.
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